Coins $SEI and $KAIA continued to rise on Friday, with Bitcoin settling below $105,000, indicating trader resilience ahead of a derivatives expiration day that may see volatility.
With markets holding up against geopolitical and macroeconomic shocks in recent weeks, the upcoming 'quadruple witching' may test the stability of altcoins - but if Bitcoin ($BTC ) remains above the key support level at $104,000, #SEI and #KAIA may have room to advance.
Table of contents
Price analysis of SEI and KAIA
Market volatility in response to the 'quadruple witching'
Optimism in the Trump era
Price analysis of SEI and KAIA
SEI traded at $0.1948 early Friday, recording modest gains. The coin added 6% to its value over the past seven days.
The closest support and resistance levels for SEI are S1 at $0.1582, which is the lowest level recorded on June 17, and R1 at $0.2494, which is the upper limit of the FVG on the daily price chart.
The technical indicators RSI and MACD support a bullish hypothesis. The relative strength index is at 50 and is trending upward. The MACD shows a fundamental positive momentum in the price direction of SEI on the daily timeframe.
SEI may close a daily candle above R1 and test resistance at $0.2750, which is the peak from May 11 for the token.
Daily price chart of #SEIUSDT
Conversely, rising volatility may pave the way for a correction in the price of SEI, pushing the coin to gather liquidity at the support level of $0.1303, as illustrated in the price chart of SEI/USDT.
The KAIA coin hovered above $0.19 on Friday. The coin gained over 2% and expanded its value on Friday. KAIA has seen an increase in its value of nearly 9% over the past seven days. The daily price chart of KAIA/USDT shows a strong likelihood of further increases in the coin's price.
The relative strength index (RSI) indicates that the coin is currently overvalued, but unless it drops below the 70 level, it usually does not give a sell signal. The MACD shows increasing green vertical bars, indicating a fundamental positive trend in the price of KAIA.
The nearest resistance is R1 at $0.2054, which is the upper limit of the FVG on the daily price chart. The next obstacle on the path to retesting the 2025 peak at $0.2665 is R2 at $0.2525.
Daily price chart of #KAIAUSDT
Conversely, KAIA may sweep liquidity at its lowest point on February 3 at $0.08. The lower limit of the FVG represents another key support level at $0.1077.
You may also be interested in: Here’s why the price of Kaia has risen significantly
Market volatility in response to 'quadruple witching'
The market capitalization of cryptocurrencies fell by 2.3% over the past 24 hours. The 'quadruple witching' has raised concerns among traders, as they expect increased volatility and price fluctuations in Bitcoin and altcoins. Volatility may have calmed for now, as most altcoins ended the week higher, but geopolitical tensions over the weekend could affect liquidity and trader sentiment.
Traders previously maintained their neutrality, and cryptocurrency prices showed resilience in the face of uncertainty regarding tariffs, wars, and missiles. However, it remains to be seen how the market will react to short-term volatility over the weekend.
Traders maintained their neutrality on Friday, with market confidence at 54 on a scale from 0 to 100, indicating a neutral outlook towards the market.
The fear and greed index in the world of cryptocurrencies
You may also be interested in: The best cryptocurrencies to buy before the $6.5 billion triple collapse on Friday
Optimism in the Trump era
The optimism sparked by Trump's election victory and Bitcoin reaching its all-time high may keep altcoins afloat during periods of uncertainty. Even as traders avoided risk, Bitcoin maintained a level of $100,000, not retreating even in the face of escalating conflict between Israel and Iran.
In summary, the headwinds of the macroeconomy have not deterred cryptocurrency traders, possibly due to the passage of the GENIUS Act in the Senate, the resolution of the SEC's lawsuit against Ripple, and the agency's leniency towards the cryptocurrency sector.
The market capitalization of altcoins is testing a key support level at $1.09 trillion. If prices remain relatively stable and traders defend the support level, altcoins like SEI and KAIA may withstand short-term market volatility without losing their previous gains.
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only.
